Married couples frequently wonder whether they should file joint or separate tax returns. The answer depends on your individual tax situation. It generally depends on which filing status results in the lowest tax bill. But something to keep in mind is that, if you and... 
Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates 56.2 million households owned mutual funds in mid-2017. But despite their popularity, the tax rules involved... 
Many of the people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that type of business entity. 1. You may qualify for the pass-through deduction. To the extent your business generates... 
Do you own a business where tipping is customary for serving food and beverages? You may qualify for a tax credit involving the Social Security and Medicare (FICA) taxes you pay on your employees’ tip income. How the credit works The FICA credit applies with respect... 
If you’re getting ready to file your 2019 tax return, and your tax bill is higher than you’d like it to be, you may still have an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA up until the Wednesday, April 15,... 
A variety of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings that are subject to Social... 